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Toys “R” Us is expected to meet with lenders today to refinance $1 billion of debt, according to people familiar with the negotiations.

Bank of America and Deutsche Bank will arrange the $500 million term loan and $500 million bond backing the transaction, said one of the people, who declined to be identified because the terms are private.

Both will be due in six years, the person said.

The Wayne, NJ, retail chain, which was acquired in 2005 by KKR, Bain Capital and Vornado Realty Trust for $7.5 billion, joins nearly a dozen issuers this week that announced bond offerings to repay borrowings.

Others included First Data Corp. — taken private by KKR for $27.5 billion — and DirecTV, as speculative-grade borrowers this week marketed or sold a record $12.9 billion of notes amid investor demand.